AVN Report
ISLAMABAD: At the recently concluded two-day EconFest experts and policymakers had insightful discussions, presenting a myriad of innovative ideas and diverse perspectives.
The event also welcomed the participation of the children from Sweet Home.
Amidst the dynamic discussions, concerns were raised over the persistent issue of high inflation in the country. Experts criticised the government’s adoption of a strong-arm market approach, citing its universal ineffectiveness.
The discussions also highlighted the reluctance of the government to address the IMF’s calls for a reduction in the budget deficit.
During a session themed “Are We a Talent Repellent Country,” speakers shed light on the critical issue of brain drain in Pakistan, pointing out the substantial emigration of highly skilled professionals seeking better prospects abroad.
The event also featured a session addressing the challenges hindering business growth in Pakistan, attributing the struggles to a non-conducive environment characterised by bureaucratic friction, policy uncertainties, and political instability, among other factors.
The experts underscored the multifaceted challenges faced by businesses, including economic instability, energy crises, bureaucratic red tape, security concerns, and complex tax structures, stressing the need for strengthened inflation dynamics, policy responses, and reporting mechanisms.
Moreover, they touched upon the widening gap between the general public and the elite, with experts highlighting the need for bridging this divide through effective measures.
The challenges faced by women in utilizing digital technology for economic, financial, and social empowerment were also brought to the forefront, with a focus on exploring potential opportunities and policy implications for addressing the existing gaps.
Justice Babar Sattar of the Islamabad High Court (IHC) drew attention to inefficiencies in the judicial system, especially mentioning the prolonged stay orders contributing to the mounting backlog of tax and fiscal-related cases.
The participants engaged in a thought-provoking discussion questioning the extent of the judiciary’s involvement in every issue brought before it.
Furthermore, the festival addressed the complex and emotional subject of poverty, highlighting the need for a unified definition and understanding of its prevalence in Pakistan.
The event also shed light on the issues within the energy sector, emphasising the necessity of effective regulation and accountability within companies, while advocating for the decentralisation of the energy system for sustainable progress.
